Despite earning millions, many NBA players face serious debt charges. Michael Jordan and Charles Barkley, two of the highest-earning stars of their era, also experienced significant debt issues, some resulting in criminal charges. For instance, Barkley once owed $400,000 in gambling debt to a Las Vegas Strip Casino, which nearly led to criminal prosecution. Similarly, Jordan refused to pay $1,200,000 to Richard Esquinas, and although he never settled the debt, Chuck acknowledged his debt and promised repayment in 2008, as reported by ESPN.
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During their playing days, both Michael Jordan and Charles Barkley had a severe gambling addiction. As best friends, they frequently engaged in gambling activities at casinos and golf courses. It’s possible that Jordan’s refusal to pay his debts to Esquinas influenced Chuck to postpone clearing his own debt.
Charles Barkley almost faced criminal charges for not repaying his outstanding debt
In 2008, Charles Barkley faced potential criminal charges for failing to repay his debt to the Wynn Las Vegas resort. The hotel lodged a complaint, stating that Barkley had received four $100,000 casino markers in October 2007 but had not repaid them. The hotel’s attorney disclosed that Barkley had disregarded multiple reminders to settle the outstanding amount.
Barkley had only himself to blame for this incident. He expressed his determination to resolve the matter with the hotel, which had offered a unique restitution program for him. The hotel’s attorney also revealed that Barkley would need to pay the outstanding $400,000, along with a 10 percent restitution fee totaling $40,000. Failure to comply could have resulted in Barkley facing up to ten years in state prison and potential charges of four felony thefts or four felony bad checks.
When discussing this incident, Chuck stated in an interview with WJOX:
“I’ve been gambling 20 years. I’ve never had this happen before. All they had to do is call and say, ‘Hey, you owe us this money.’ Do I have a gambling problem? Yeah I do have a gambling problem. But I don’t consider it a problem because I can afford to gamble.”
According to ESPN, Barkley’s debts were potentially related to a bet he made on the 2008 Super Bowl. However, he did not provide an explanation for Wynn’s claim that the casino markers were from October 2007. Throughout his gambling history, Barkley has spent more than $10,000,000. He emphasizes that he has never wagered on basketball games.
Barkley and Jordan faced a serious addiction to gambling
Michael Jordan and Charles Barkley have encountered significant challenges as a result of their gambling addictions. In the case of Michael Jordan, his relentless competitiveness drove him to engage in gambling activities. On the other hand, Charles Barkley experienced substantial financial losses, including millions of dollars, due to this unhealthy addiction. Barkley once candidly admitted to losing $20,000,000 due to the sheer excitement and thrill of gambling.
The allure of small profits further enticed both Michael Jordan and Chuck, deepening their addiction. Jordan’s gambling addiction led to other controversies, such as his association with drug kingpin Slim Bouler. Some even speculate that his retirement in 1993 was a strategic move to avoid potential repercussions from the league regarding his gambling habits. Nevertheless, both basketball stars endured their fair share of anxieties stemming from gambling, which provided them with valuable insights to reflect upon their addictive behavior.
